Allocation of Payments; Advances. (a) All payments and other amounts received on account of any of the Loans or Underlying Collateral on or before the Cut-Off Date shall be retained by and shall belong to the Initial Member. Any and all Loan Proceeds received at any time after the Cut-Off Date shall be allocated and distributed to and shall belong to the Company.
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Samples: Contribution and Sale Agreement, Contribution and Sale Agreement, Contribution and Sale Agreement
Allocation of Payments; Advances. (a) All payments and other amounts received on account of any of the Loans or Underlying Collateral on or before the Cut-Off Date shall be retained by and shall belong to the Initial Member. Any and all Loan Proceeds received at any time after the Cut-Off Date shall be allocated and distributed to and shall belong to the Company.
Appears in 2 contracts
Samples: Loan Contribution and Sale Agreement, Loan Contribution and Sale Agreement
Allocation of Payments; Advances. (a) All payments and other amounts received on account of any of the Mortgage Loans or Underlying Collateral on or before the Cut-Off Date shall be retained by and shall belong to the Initial Member. Any and all Mortgage Loan Proceeds received at any time after the Cut-Off Date shall be allocated and distributed to and shall belong to the Company.
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